Small States In A Global Economy

In response to the largely closed-economy assumptions of most cross-national work on economic policy-making, Open States in the Global Economy offers an outside-in framework for analyzing the way in which national economic sovereignty is affected by globalization. This framework is then applied to a detailed case study of Norway's economic policy in the postwar period. The 'Open State' framework offers a new way to interpret how external changes affect domestic policy-makers and their preferences.

The book contains fifty-four tables covering selected economic, social, demographic and Millennium Development Goal indicators culled from international and national sources and presents information unavailable elsewhere. A detailed parallel commentary on trends in Commonwealth small states, looking at growth, employment, inflation, human development, and economic policy, permits a deeper understanding of developments behind the figures.

The book contains fifty four tables covering selected economic, social, demographic and Millennium Development Goal indicators culled from international and national sources and presents information unavailable elsewhere. A detailed parallel commentary on trends in Commonwealth small states, looking at growth, employment, inflation, human development, and economic policy, permits a deeper understanding of developments behind the figures.

In an era of globalization, no country can be an island disconnected from the rest of the world and small states are now integrated in the global economy. The analysis in this book shows that the experiences of small states can be valuable for other countries but at the same time, small states can be vulnerable. This book discusses several issues that are of global importance and analyses how small states are affected, why they can be vulnerable and how their experiences can be beneficial globally, including for larger states. The issues discussed include the 2008 global economic and financial crisis; governance issues and vulnerabilities in small states with small institutions and limited administrative capacity; international development cooperation; and how small states can contribute to the global transition to clean energy. Each chapter is a case study. The first chapter discusses how Iceland and Latvia were affected by the 2008 crisis, how they responded and what the post crisis results are both economically and in terms of human progress. The second chapter talks about governance failure in Iceland that resulted in excessive expansion of its banking system and then the total collapse of its financial system. It also discusses the response of the international community, failures in EU finanical integration, and tensions between Iceland and friendly nations that refused to assist the Icelandic government when it tried to rescue its banking system. The third chapter discusses how the Baltic States, which have transformed themselves from being provinces in the former Soviet Union into modern states, can assist other less advanced transition countries. The chapter argues that the transition experience of the Baltic States can be p

This is an in-depth analysis of the various methods used by small states to overcome their vulnerabilities in the international arena. With its balanced approach and variety of contributions, this book is of interest to researchers and academics who focus on the developing world or multilateral diplomacy.

Smaller nations have a special place in the international system, with a striking capacity to defy the expectations of most observers and many prominent theories of international relations. This volume of classic essays highlights the ability of small states to counter power with superior commitment, to rely on tightly knit domestic institutions with a shared "ideology of social partnership," and to set agendas as "norm entrepreneurs." The volume is organized around themes such as how and why small states defy expectations of realist approaches to the study of power; the agenda-setting capacity of smaller powers in international society and in regional governance structures such as the European Union; and how small states and representatives from these societies play the role of norm entrepreneurs in world politics -- from the promotion of sustainable solutions to innovative humanitarian programs and policies..